Riyadh - Exclusive Sharikat Mubasher: Clear, a fintech software-as-as-service (SaaS) company formerly known as ClearTax, onboarded the largest number of taxpayers in Saudi Arabia on tax e-invoice systems, in compliance with the two phases of the e-invoicing project introduced by the Zakat, Tax and Customs Authority (ZATCA), Territory Sales Manager Reda Omar told Sharikat Mubasher.
In an interview held on the sidelines of Seamless Saudi Arabia 2024, Omar revealed that Clear converted 10% to 15% of tax invoices in the Kingdom to ZATCA e-invoices.
He noted that the company finalized over 200 million documents, in collaboration with the ZATCA platform, ensuring 99.9% e-invoicing compliance.
The official elaborated that Clear’s clientele encompasses large joint stock and semi-government companies, in addition to other large companies such as Al Muhaidib Group, Lucid, and other PIF companies.
Omar affirmed Clear's mission to develop cloud-based products that automate companies’ tax compliance processes to save time and effort.
Further, the official said that Clear generated more than 500 million e-invoices worth $500 billion annually, serving clients in over 25 countries around the globe.
Founded in 2011 in the US, Clear is a tax and technology company that builds trusted, useful, and insightful platforms for clients to run their finances, stay compliant with the latest norms, connect with other businesses, and improve their relationship with money.
Seamless Saudi Arabia 2024 took place in Riyadh from 22 to 24 October, bringing together industry leaders, decision-makers, SMEs, startups, and government representatives from around the world.
It provided in-depth discussions covering a wide range of subjects, from digital banking to the integration of technology in retail environments.